London, 13th February —OneID®, the UK’s only provider of bank-verified digital identification services, has secured new funding led by ACF Investors. OneID is one of the leading angel-funded businesses in the world, having raised over £16m from more than 200 UK, Swedish and US Angel Investors. The investment will be used to drive growth and expand operations and services to reach a growing customer base.
The growing losses and sophistication of fraud, combined with the need for a more seamless user experience, have made the need for more secure and efficient online identity verification more pressing.
OneID®s digital identity services address this challenge by simplifying customer verification through bank-verified data. This approach enables a document-free digital identification process that can be completed within twelve seconds. The service also prioritises privacy, requiring consent to share personal data and helps businesses streamline onboarding, increase sales, reduce operational costs, and mitigate fraud risks. The fact that approximately 90% of UK adults who use online banking can use OneID for verification also makes it the most widely accessible solution.
The UK Government’s increased focus on digital identity has highlighted the need for innovation in the sector. The Department of Science and Technology’s proposed Digital ID for age verification and the Online Safety Act of 2023 require more than 100,000 online service providers to adopt stringent identity and age assurance measures. OneID’s bank-based identity and age verification solution ensures compliance with the Act whilst maintaining user privacy.
“At OneID, our goal is to make the world safer by making digital identity verification more efficient and accessible for businesses and users. We’ve had a tremendous year in 2024 across several use cases. With our integration with Adobe set to go live with leading high-street banks in the UK, we are proving our ability to solve urgent business problems against the toughest standard-setters. The funding from ACF Investors is a strong vote of confidence in us as a business, and we look forward to working with the team to supercharge our growth in 2025.”
Paula Sussex, CEO, OneID®
The funding follows a period of growth and implementation of the company’s technology with a growing customer base, including NatWest and Adobe. OneID will use the funding to enhance its product offering, expand its operations into new market sectors and deliver its services to new and existing customers.
“The Government’s growing focus on digital identity underscores the market’s need for simple and effective identification solutions. OneID is delivering exactly that, enabling both fraud prevention and regulatory compliance for financial institutions. We are delighted to follow on from our initial investment in 2023 and look forward to supporting the team as they grow.”
Tim Mills, Managing Partner, ACF Investors
About OneID®
OneID® is the only provider of truly digital, real-time identity services that create absolute certainty between a business and a customer in the fastest, cheapest, and safest way. Our digital ID services use the most advanced counter-fraud measures to help protect banks, businesses, and consumers from online identity fraud. We help businesses reduce operational costs, increase sales, and improve customer engagement by streamlining existing ID processes, including payments, direct debits, onboarding, and more.
As the only UK Identity Service with access to bank-verified data, approximately 50 million UK adults are already set up to use OneID® for real-time verification. OneID is government-certified, regulated by the FCA, and a BCorp business.
Headquartered in the UK, we have brought together the best people in Digital Identity, Payments, Banking, Technology and Government to ensure we make the world a safer place.
OneID® enables individuals to verify their identity in the fastest, safest way using bank-verified data. It requires no registration process, does not store any personal data, and removes the need for scanning passports or taking selfies to authenticate your identity online.
About ACF Investors
Launched in 2011, ACF Investors (formerly the Angel CoFund) is a privately managed and commercially focused venture capital fund that works alongside sector smart business angels to invest in high-potential SMEs across the UK, directly providing funding to support exceptional businesses.
To date, ACF Investors has supported 110 companies, including such names as Ebury, Gousto, Creo Medical, and Form3, providing more than £65 million in direct investment alongside more than £350 million from business angels and other investors, making it one of the most active early-stage investors in the country.
To find out more, please visit www.acfinvestors.com
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